Wolfe Research initiated coverage on shares of Discovery Communications (NASDAQ:DISCA) in a report released on Friday morning, The Fly reports. The brokerage issued an outperform rating on the stock.
A number of other equities research analysts also recently issued reports on the stock. Barclays reissued a hold rating on shares of Discovery Communications in a report on Tuesday. Zacks Investment Research downgraded shares of Discovery Communications from a buy rating to a hold rating in a report on Friday, November 16th. Citigroup increased their price target on shares of Discovery Communications from $30.00 to $32.00 and gave the stock a buy rating in a report on Wednesday, August 15th. Imperial Capital lowered their price target on shares of Discovery Communications from $37.00 to $31.00 and set an inline rating on the stock in a report on Tuesday. Finally, ValuEngine raised shares of Discovery Communications from a sell rating to a hold rating in a report on Wednesday, September 12th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $32.79.
NASDAQ DISCA traded down $0.22 during trading on Friday, hitting $28.93. 6,236,492 shares of the company’s stock traded hands, compared to its average volume of 4,276,108. The company has a market cap of $15.26 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 0.41 and a beta of 1.24. Discovery Communications has a 12-month low of $19.11 and a 12-month high of $34.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.61.
In other Discovery Communications news, insider Jean-Briac Perrette sold 93,392 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $31.12, for a total transaction of $2,906,359.04. Following the transaction, the insider now directly owns 141,534 shares in the company, valued at $4,404,538.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Savalle Sims sold 1,666 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $28.21, for a total transaction of $46,997.86. Following the transaction, the general counsel now owns 208 shares in the company, valued at $5,867.68. The disclosure for this sale can be found here. Insiders sold 281,031 shares of company stock worth $8,506,185 over the last ninety days. 6.73% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DISCA. NuWave Investment Management LLC lifted its position in Discovery Communications by 138,044.4% during the third quarter. NuWave Investment Management LLC now owns 12,433 shares of the company’s stock valued at $398,000 after buying an additional 12,424 shares during the period. California Public Employees Retirement System raised its position in shares of Discovery Communications by 26.4% in the 2nd quarter. California Public Employees Retirement System now owns 359,647 shares of the company’s stock worth $9,890,000 after purchasing an additional 75,219 shares during the last quarter. grace capital purchased a new position in shares of Discovery Communications in the 2nd quarter worth about $3,442,000. Schroder Investment Management Group raised its position in shares of Discovery Communications by 68.7% in the 2nd quarter. Schroder Investment Management Group now owns 1,056,200 shares of the company’s stock worth $30,080,000 after purchasing an additional 430,300 shares during the last quarter. Finally, CapWealth Advisors LLC purchased a new position in shares of Discovery Communications in the 2nd quarter worth about $6,423,000. Institutional investors and hedge funds own 41.80% of the company’s stock.
About Discovery Communications
Discovery, Inc operates as a media company worldwide. The company operates through U.S. Networks, International Networks, and Education and Other segments. It owns and operates various television networks under the Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science Channel, Velocity, Discovery Family Channel, Destination America, American Heroes Channel, Discovery Life, The Oprah Winfrey Network, Eurosport, Discovery Kids, DMAX, and Discovery Home & Health brands, as well as other regional television networks.
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